Bangor Savings Bank Sells 347 Shares of AbbVie Inc. (NYSE:ABBV)

Bangor Savings Bank lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,850 shares of the company’s stock after selling 347 shares during the period. Bangor Savings Bank’s holdings in AbbVie were worth $2,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Personal CFO Solutions LLC raised its position in shares of AbbVie by 8.4% during the 3rd quarter. Personal CFO Solutions LLC now owns 6,289 shares of the company’s stock valued at $938,000 after buying an additional 485 shares in the last quarter. Asset Dedication LLC increased its position in shares of AbbVie by 8.4% during the 3rd quarter. Asset Dedication LLC now owns 14,395 shares of the company’s stock valued at $2,146,000 after purchasing an additional 1,120 shares during the last quarter. Natixis Advisors L.P. raised its holdings in AbbVie by 43.3% during the 3rd quarter. Natixis Advisors L.P. now owns 904,900 shares of the company’s stock valued at $134,884,000 after buying an additional 273,282 shares during the period. Consolidated Portfolio Review Corp boosted its stake in AbbVie by 3.4% during the third quarter. Consolidated Portfolio Review Corp now owns 3,247 shares of the company’s stock worth $484,000 after buying an additional 106 shares during the period. Finally, Providence Capital Advisors LLC raised its stake in shares of AbbVie by 0.7% in the third quarter. Providence Capital Advisors LLC now owns 16,237 shares of the company’s stock valued at $2,420,000 after acquiring an additional 106 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of several analyst reports. Barclays decreased their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Thursday. Piper Sandler upped their price objective on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. BMO Capital Markets decreased their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Guggenheim upped their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Price Performance

Shares of NYSE ABBV opened at $170.39 on Monday. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a market cap of $300.89 billion, a PE ratio of 50.56, a P/E/G ratio of 2.20 and a beta of 0.60. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The business has a 50-day simple moving average of $163.89 and a two-hundred day simple moving average of $166.93.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. AbbVie’s revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $2.46 EPS. As a group, equities analysts expect that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.